Renowned KOL Foolish Dragon King Responds to Pump-and-Dump of SAT1: Will Sell Position to Compensate Loss for Users and Exit Web

BlockBeats News, May 9th: Renowned KOL, Han Ba, responded to the "sat1 Pump-and-Dump Incident" in a post on X, stating:

He only participated as a trader and has no affiliation with the sat1 token project itself;

The pump of sat1 was only voiced within the group, with other groups amplifying the pump through forwarding, hoping to create liquidity through this;

The reason for the pump was to surpass sato and achieve mutual profits with sat1, but underestimated the level of PVP in the primary market and failed to form a united front;

His current holdings are approximately at a break-even point, with a cost of 565 ETH and a current value of 543 ETH.

The handling of the pump-and-dump incident is as follows: he will immediately sell all holdings of sat1, compensate the loss-making users with the obtained ETH, no longer prove his own profit or loss, and will exit the network after the incident is resolved.

According to GMGN Market, as of the time of publication, the market value of sat1 is reported to be $1.2 million, with a previous peak reaching $8.4 million.